South State Bank Mortgage Rates, Fees & Info
Columbia, SCLEI: 549300K7EA6G6K9GYL80
Tax ID: 57-0219408
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Mortgage Data
Review & Overview
South State Bank is a small bank specializing in Home Purchase and Refi loans. South State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Charleston, Charlotte, Greenville, Hilton Head Island, and Myrtle Beach among others. We have data for 65 markets. (Some data included below & more in-depth data is available with an active subscription.)South State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. South State Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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Originations
3,859Origination Dollar Volume (All Markets)
$1,056,815,000Awards
South State Bank - 2020
South State Bank is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 592 | $218,850,000 | $369,679 | $6,971 | 3.61% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 647 | $195,095,000 | $301,538 | $6,352 | 3.65% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 571 | $140,865,000 | $246,699 | $5,504 | 3.66% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 274 | $81,640,000 | $297,956 | $6,210 | 3.66% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 323 | $65,285,000 | $202,121 | $5,193 | 3.78% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 271 | $62,655,000 | $231,199 | $5,457 | 3.55% |
| COLUMBIA, SC (FHA|USDA|VA) | 221 | $54,905,000 | $248,439 | $5,872 | 3.68% |
| SAVANNAH, GA (FHA|USDA|VA) | 122 | $43,360,000 | $355,410 | $8,177 | 3.42% |
| Outside of Metro Areas | 153 | $32,655,000 | $213,431 | $5,967 | 3.99% |
| SPARTANBURG, SC (FHA|USDA|VA) | 51 | $30,675,000 | $601,471 | $5,785 | 3.61% |
| Seneca, SC (FHA|USDA|VA) | 90 | $24,550,000 | $272,778 | $6,089 | 3.59% |
| Georgetown, SC (FHA|USDA|VA) | 61 | $17,355,000 | $284,508 | $6,533 | 3.72% |
| WILMINGTON, NC (FHA|USDA|VA) | 54 | $13,520,000 | $250,370 | $5,602 | 3.80% |
| RICHMOND, VA (FHA|USDA|VA) | 30 | $12,010,000 | $400,333 | $7,901 | 3.39% |
| FLORENCE, SC (FHA|USDA|VA) | 62 | $8,470,000 | $136,613 | $4,866 | 4.20% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 42 | $8,400,000 | $200,000 | $6,155 | 3.58% |
| Orangeburg, SC (FHA|USDA|VA) | 53 | $7,575,000 | $142,925 | $4,250 | 3.88% |
| Cornelia, GA (FHA|USDA|VA) | 45 | $6,975,000 | $155,000 | $4,596 | 3.72% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 32 | $6,810,000 | $212,813 | $5,687 | 3.96% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 16 | $2,820,000 | $176,250 | $5,075 | 3.66% |
| Greenwood, SC (FHA|USDA|VA) | 18 | $2,530,000 | $140,556 | $4,220 | 3.74% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 15 | $2,515,000 | $167,667 | $4,882 | 3.35% |
| Jefferson, GA (FHA|USDA|VA) | 14 | $1,920,000 | $137,143 | $5,032 | 4.04% |
| GAINESVILLE, GA (FHA|USDA|VA) | 14 | $1,820,000 | $130,000 | $4,516 | 3.33% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $5,517 | 3.47% |
| SUMTER, SC (FHA|USDA|VA) | 8 | $1,120,000 | $140,000 | $5,053 | 5.31% |
| Newberry, SC (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $6,037 | 3.59% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $6,456 | 3.60% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $6,849 | 4.28% |
| Toccoa, GA (FHA|USDA|VA) | 6 | $770,000 | $128,333 | $3,760 | 3.40% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $12,045 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $4,319 | 3.72% |
| Boone, NC (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,093 | 3.46% |
| Shelby, NC (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,864 | 3.88% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,785 | 3.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,429 | 3.63% |
| Forest City, NC (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,672 | 3.50% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,315 | 3.88% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,381 | 4.00% |
| Lumberton, NC (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 7.34% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 6.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,139 | 3.75% |
| Tupelo, MS (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 6.75% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,521 | 3.38% |
| Dublin, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,652 | 2.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,471 | 3.25% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 6.63% |
| Wilson, NC (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 6.00% |
| OCALA, FL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 6.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.50% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,283 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.00% |
| Jasper, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.50% |
| Union, SC (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.63% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.25% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.50% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.00% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.13% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.75% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,870 | 2.88% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.50% |
| Troy, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.75% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against South State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2020, South State Bank's most frequently originated type of loan was Conventional, with 2,679 originations. Their 2nd most popular type was HELOC, with 996 originations.
Loan Reason
For 2020, South State Bank's most frequently cited loan purpose was Home Purchase, with 1,588 originations. The 2nd most popular reason was Refi, with 1,011 originations.
Loan Duration/Length
For 2020, South State Bank's most frequently cited loan duration was 30 Year, with 2,269 originations. The 2nd most popular length was 10 Year, with 937 originations.
Origination Fees/Closing Costs
South State Bank's average total fees were $6,210, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 654 originations.
Interest Rates
During 2020, South State Bank's average interest rate for loans was 3.60%, while their most frequently originated rate bucket for loans was 3-4%, with 2,796 originations.
Loan Sizing
2020 saw South State Bank place emphasis on $200k-400k loans with 1,271 originations, totaling $358,445,000 in origination value.
Applicant Income
South State Bank lent most frequently to those with incomes in the $100k-150k range, with 801 originations. The second most popular income band? $50k-75k, with 649 originations.
Applicant Debt to Income Ratio
South State Bank lent most frequently to those with DTI ratios of 20-30%, with 1,036 originations. The next most common DTI ratio? 30-36%, with 756 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.77%
South State Bank has a below average approval rate.
Pick Rate
Approvals leading to origination63.33%
South State Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10.0 | 2 | $170,000 | $85,000 |
| 116.99 | 1 | $45,000 | $45,000 |
| 140.17 | 1 | $55,000 | $55,000 |
| 140.97 | 1 | $55,000 | $55,000 |
| 149.08 | 1 | $55,000 | $55,000 |
| 155.13 | 1 | $55,000 | $55,000 |
| 162.06 | 1 | $65,000 | $65,000 |
| 164.05 | 1 | $65,000 | $65,000 |
| 165.12 | 1 | $65,000 | $65,000 |
| 166.17 | 1 | $65,000 | $65,000 |
| 179.05 | 1 | $65,000 | $65,000 |
| 200.47 | 1 | $75,000 | $75,000 |
| 211.25 | 1 | $85,000 | $85,000 |
| 230.99 | 1 | $85,000 | $85,000 |
| 292.07 | 1 | $115,000 | $115,000 |
| 406.0 | 46 | $3,000,000 | $65,217 |
| 409.0 | 29 | $2,115,000 | $72,931 |
| 57.0 | 1 | $15,000 | $15,000 |
| NA | 3,767 | $1,050,565,000 | $278,886 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHSTATE CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 14.3% |
| SOUTHSTATE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| SOUTHSTATE CORPORATION | Conventional home mortgage | Trouble during payment process | 5 | 71.4% |